********************************************************************************
*********** This program is written for the present value project **************
********************************************************************************

clear all
set more off, perm


* 1. Data construction
* Create panel data for the main analyses
qui do "01. Annual data construction"

* 2. Firm-level analyses
* Figure 1, Figure 2, Table 1.A, Table 1.C, Table 2, Table 3, Table 4, Table E.1, 
* Table E.2, Table E.4, Table E.5, Table E.6, Table E.7, Table E.8, Table E.9, 
* Table E.10
qui do "02. VAR Analysis Firm Level"

* 3. Aggregate analyses
* Table 1.B, Table 3.B, Table E.3
qui do "03. VAR Aggregate Analysis"

* 4. Factor analyses
* Figure 5, Table 6, Table 7
qui do "04. Factor Analysis" 

* 5. Portfolio-level analyses
* Figure 2, Figure 3, Table 2.A, Table 5
qui do "05. Portfolio-level Analysis"


* Figure 4? Table E.11? Table E.12? Table E.13? 
